Brazil’s net debt lowest since 1997 falling 37.2% of GDP in Sept
Brazil’s net debt fell in September to its lowest level since 1997, as a 15% decline in the real last month boosted the value of the country’s near-record 353 billion dollars in foreign currency reserves. Net debt fell to 37.2% of GDP in September, the central bank said Monday in a report, compared with 39.2% of GDP in August. Brazil’s …
Read MoreIncreasing Demand for Travel to Brazil reports Expedia
Expedia, Inc. has published data showing growth in the number of online bookings to Brazil made on the more than 100 Expedia and Hotels.com travel sites worldwide. “Bookings made on Expedia to Brazil have grown more than 90 percent over the past year,” said Rafael del Castillo, Expedia director of market management for South America. “We’re also seeing strong growth …
Read MoreBrazil to surpass UK and Become World’s Sixth Economy by 2012
Reports from the International Monetary Fund and international private consultants show that at the end of the year Brazil’s GDP will rank sixth in the world and for the first time ahead of Britain’s GDP. Brazil’s GDP is expected to grow 3.5% in 2011, less than originally expected by the government last January, but it will total US$ 2.44 trillion, …
Read MoreBrazil Makes Its Own Manhattan
São Paulo is almost beyond the imagination — a drizzle-shrouded megacity of almost 20 million that sprawls like Los Angeles and boasts enough skyscrapers to beat New York. The gritty financial engine of the new Brazil, São Paulo exerts influence over commerce, media and culture. The Brazilian writer Roberto Pompeu de Toledo calls it an “urban labyrinth that reaches toward …
Read MoreVolkswagen to open $2 bn factory in north east Brazil
German automaker Volkswagen is set to invest $2 billion in a new factory in north-eastern Brazil, a specialty publication said this week. The German firm and officials in Pernambuco state are finalizing the details of the deal, the Valor Economico daily reported, without citing sources. Plans are for the factory to be built in Cabo de Santo Agostinho, a town …
Read MoreBrazil iPad Factory prepared to open
Earlier this year, Foxconn, which produces Apple’s popular tablet, announced plans to open an iPad assembly plant in Brazil, providing 100,000 direct and indirect jobs – and making Brazil the first country other than China to begin producing the tablet. Foxconn chairman Terry Gou has confirmed that the new iPad factory in Jundiaí, São Paulo state, will be officially opened …
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